A Clean Industry Package for the EU

To align with the Paris Agreement, the European Commission’s 2030 Climate Target Plan has recommended that the EU reduces emissions by 55 percent by 2030 (relative to 1990 levels) and achieve climate neutrality by 2050. An essential requirement for achieving these goals is that the EU and its Member States redouble their efforts to support a clean transition in the industrial sector. Industry accounts for approximately 20 percent of the EU’s net annual CO2 emissions, with the bulk of these coming from energy-intensive sub-branches, such as cement, steel and chemicals. To achieve the European Commission’s proposed new climate targets, industry must reduce emissions by between 22 and 25 percent by 2030 and between 90 and 100 percent by 2050, all relative to 2015 levels. Before 2030, a large portion of Europe’s industrial installations will be up for major reinvestment decisions. Since these are investments in very long-lived capital assets, the EU must make the most of the opportunity to put these sites